Daily Comment
Daily Comment (November 17, 2017)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EST] Global equity markets are mostly steady to higher this morning. The EuroStoxx 50 is flat from the last close. In Asia, the MSCI Asia Apex 50 closed up 0.8% from the prior close. Chinese markets were lower, with the Shanghai composite down 0.5% and the Shenzhen… Read More »
Daily Comment (November 16, 2017)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EST] After a few days of risk concerns, equity markets are “in the green” this morning. The dollar and Treasury yields are higher. Here is what we are watching this morning: The tax bill: The House is expected to pass its version of the tax bill today. … Read More »
Daily Comment (November 15, 2017)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EST] Here’s what we are watching today: Another weak day: Risk markets continue to slide this morning, although the levels of decline are not all that large. It’s been such a long time since we have seen weakness in equity prices that even modest retreats appear significant. … Read More »
Daily Comment (November 14, 2017)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EST] It was a very quiet overnight session. Better Eurozone growth has lifted the EUR, while global equity markets continue to struggle in what looks to us like profit taking. PPI (see below) did come in higher than forecast; shorter duration Treasury yields rose. Here is what… Read More »
Daily Comment (November 13, 2017)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EST] Happy Monday! Here are the news items we are watching this morning: The president’s trip to Asia comes to a close: The president stayed mostly on script for the early part of his trip but began to stray toward the end. We suspect historians will look… Read More »
Daily Comment (November 10, 2017)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EST] We are seeing further equity weakness this morning; interestingly, too, Treasury yields are rising. The asset market weakness doesn’t appear to have a single cause, but rather a mix of factors has weakened investor sentiment. Here is what we are watching: Who knew tax reform would… Read More »
Daily Comment (November 9, 2017)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EST] We are seeing some equity weakness this morning. There isn’t anything specific weighing on the market other than what looks like profit taking. Here’s the news we are watching this morning: President Trump in China: The president received $250 bn in trade deals and promised investments. … Read More »
Daily Comment (November 8, 2017)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EST] There was a good bit of news overnight. Here is what we are watching: The message from the voters: Governor and downstate elections were held in Virginia and New Jersey yesterday. Although small sample size projections are the lifeblood of political punditry, we see three legitimate… Read More »
Daily Comment (November 7, 2017)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EST] The overnight news was less active than the weekend but there’s still a lot going on. Here’s what we are watching: Saudi Arabia: We see two items of note this morning. First, the king has ordered banks to freeze the accounts of numerous Saudi nationals who… Read More »